Last Updated: November 6, 2009 5:42 pm CST
featured stories
RMBS Ratings Proposal Will Determine Insurers’ Capital Requirements
The National Association of Insurance Commissioners (NAIC) on Thursday approved a proposal to establish a new model for determining ratings of residential mortgage-backed securities (RMBS). The new model will establish ratings designations for approximately 18,000 RMBS owned by US insurers by the end of 2009. It will by extension help to determine the risk-based capital requirements of these RMBS. “Compared... more»
More Lessons From Bernie
Bernie Madoff’s accountant pleaded guilty today regarding his involvement in the multi-billion dollar Ponzi scheme. Bloomberg has the scoop on the guilty plea from David Friehling, who indicated he failed to execute the required independent investigation into Bernard Madoff Investment Securities. HousingWire magazine reviews an account of the Madoff debacle, Too Good to be True: the Rise and... more»
Obama Signs First-Time Homebuyer Tax Credit Extension
President Barack Obama signed the “Worker, Homeownership and Business Assistance Act of 2009” into law on Friday, extending the first-time homebuyer tax credit as well as certain jobless benefits at a time when the US unemployment rate has officially reached 10.2%. With the first-time homebuyer tax credit originally scheduled to expire on Dec. 1, 2009, HR 3548 now allows first-time buyers to claim 10% of the purchase price of their home, up to... more»
RMBS Ratings Proposal Will Determine Insurers’ Capital Requirements
The National Association of Insurance Commissioners (NAIC) on Thursday approved a proposal to establish a new model for determining ratings of residential mortgage-backed securities (RMBS). The new model will establish ratings designations for approximately 18,000 RMBS owned by US insurers by the end of 2009. It will by extension help to determine the risk-based capital requirements of these RMBS. “Compared to the rest of financial services, the... more»
PMI’s Mortgage Insurance Operations Lose $2.7bn Q309
The PMI Group (PMI: 2.34 +4.93%) reported an $87.9m net loss, or $1.06 per share, in Q309, compared to a loss of $149.3m for the same period last year. In PMI’s US Mortgage Insurance Operations segment, losses increased by $134m to $2.7bn in Q309. The losses were primarily due to additional defaults and a higher average rate of claims, offset by a lower average in primary claim sizes and the continued effect from... more»
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most viewed today
- Obama Signs First-Time Homebuyer Tax Credit Extension
- Senate Approves Homebuyer Tax Credit Extension
- RMBS Ratings Proposal Will Determine Insurers' Capital Requirements
- Mortgage Modifications 'Insignificant' to Credit Scores: VantageScore
- BarCap Sees 'Limited Use' of Fannie's Deed-for-Lease Program
- Ginnie's Single-Family Delinquency Rate Drops to 3.48%
- Higher Unemployment Means Many More Distressed Properties to Come
- IBM To Launch HAMP Mod Software in 2010
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Events
2009 Dec 09 -- 2009 Dec 10
RMBS: Assessing Value and Risk
This two-day course in New York City will equip market participants with the knowledge and skills to evaluate prime, Alt-A and subprime RMBS portfolios in order to assess their value and understand inherent risks. For more information, visit www.fitchratings.com.
2010 Jan 13 -- 2010 Jan 14
2010 Collection Technology Summit
The Collection Technology Summit is the first industry event to focus solely on collections and its associated technologies and continues to draw top executives from the nation's most prominent institutions. The Collection Technology Summit, where innovation happens. For more information, visit www.collectiontechnology.net
